$ZEC approximately $331.53 USD, experiencing a significant daily decline of 9.18%. This price volatility comes despite a recent 90-day rally and strong institutional interest, with the ZEC price struggling to hold above key support levels amid a broader market correction and regulatory uncertainty.
Current Price & Volatility: ZEC is currently valued at around $331.53, having dropped over 9% in the last 24 hours. The 24-hour price range has been between $353.51 and $404.94, indicating high intraday volatility.
Market Capitalization & Rank: Zcash holds a market cap of approximately $5.8 billion, ranking it around the 23rd largest cryptocurrency by this metric.
Recent Performance: This daily drop contrasts sharply with its impressive longer-term performance, including a 590% gain over the past 90 days, highlighting a recent shift in momentum.
Technical Levels: The current price is hovering near a crucial support level of approximately $344; a sustained drop below this could trigger further declines towards the next support at $304.32.
Regulatory Scrutiny: A key factor in the current uncertainty is the upcoming SEC roundtable on financial privacy and blockchain regulation, scheduled for December 15, which could significantly impact the future of privacy coins like ZEC.
Institutional Interest: Despite short-term bearish sentiment in prediction markets, there is significant institutional backing, evidenced by Grayscale's filing for a spot Zcash ETF and Nasdaq-listed Reliance Global Group moving its entire digital treasury into ZEC.
Network Utility: The percentage of ZEC supply held in shielded (private) addresses has risen to nearly 30%, suggesting growing real-world usage and trust in the coin's core privacy features.
